Subscribe To China Now

strategy

The Greater Bay Area and Hainan FTP: Comparing China’s...

In 2018, China released its blueprint for the development of ...

read more
View all in strategy

finance

NZ China Council Investment Report “Understanding Chinese...

Our investment report “Understanding Chinese Investment in New Zealand” ...

read more
View all in finance

profile

University of Auckland launches Learning Centres in China

The University of Auckland has launched two Learning Centres in collaboration with ...

read more
View all in profile

commentary

Report Explores New Zealand’s Trade Exposure to China

A new report on New Zealand-China trade patterns commissioned by the New ...

read more
View all in commentary

general

UMS partners with New Zealand China Trade Association (NZCTA)

United Media Solution (UMS), New Zealand’s leading Chinese digital marketing ...

read more
View all in general

NZCTA Commentary - September

China General Interest

"Contamination happens all over the World," BioVittoria Co-Founder and Managing Director, Stephen Le Febvre told NZCTA members at a highly successful seminar this month, "Even in the US, where I come from!"

But it becomes a much bigger issue because globally China is seen as a threat, he went on to say. Having gone through a quality issue with Chinese partners, he had lamented the lack of total control he had been able to exercise over the situation and the cultural and structural imperatives that created a "you don’t need to know" response initially.

"It’s incredibly difficult," Mr Le Febvre stressed. The lesson was to learn fast and get the Government involved as in general terms the systems are not in place in China to identify every problem which emerges.

But he was sure the FTA would bring the benefits of more safety around the NZ/China connection, more confidence, more access and greater trust.

The BioVittoria story is one of comprehensive engagement with its Chinese partners, control from the seedling, direct contact with the thousands of individual growers and the setting up of medical and social systems, which helps to prevent the rural drift to the Chinese cities.

Biovittoria won the NZCTA Supreme China Award in 2007 for that high level of vertical integration in the process of Luo Han growth, production and distribution, which eventually reaches US based clients such as Pepsi, Coke and Cadbury’s.

The well attended event, covering FTA issues and opportunitires, also heard from Ernst & Young tax specialist Joanna Doolan on changing NZ Tax rules and how they effect Chinese ventures and "the ever changing world of tax in China".

Both domestic and foreign organisations are now taxed at the same 25% level and she cautioned that local determinations can be over-ruled by the paramount State Tax Bureau. "Cheap advice is dangerous", she concluded and we wouldn’t in any way disagree with that!

NZTE’s John Bedkober unravelled the details of the new Shanghai Concept Centre – New Zealand Central, where subscribers can leverage off the NZ Inc brand in prestigious Xintiandi. This is due to be opened in December with a formal ceremony in the first Quarter of 2009.

Finally, Peter Webb of IVS explained the new document certification rules under the FTA and how traders could ensure they gained the benefits made available by the agreement.

Gold Sponsors, Ernst & Young hosted the seminar, and NZCTA thanks them for their substantial assistance with the arrangements.

There are two more notable NZCTA events this year, silver sponsor, DHL hosting a site visit and workshop with Glidepath’s Ken Stevens as guest speaker on 16 October and the AGM and Luncheon on 12 November with Tim Groser as guest speaker. Mr Groser is an eloquent and amusing speaker but the outcome of an event on 8 November will determine what capacity he speaks in!

Click here for details


Tags: tax